William Blair Reiterates “Outperform” Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a research note issued on Thursday, RTT News reports.

Several other equities analysts have also recently weighed in on BRZE. DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of Braze in a report on Monday. Canaccord Genuity Group boosted their price target on Braze from $55.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Barclays increased their target price on shares of Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. upped their price target on shares of Braze from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, November 29th. Finally, The Goldman Sachs Group increased their price objective on shares of Braze from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.82.

Braze Trading Up 2.3 %

Shares of BRZE opened at $50.58 on Thursday. Braze has a 1 year low of $25.76 and a 1 year high of $61.53. The stock has a market cap of $5.05 billion, a P/E ratio of -36.39 and a beta of 1.21. The stock’s 50-day moving average price is $55.05 and its two-hundred day moving average price is $51.24.

Insider Activity at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.32, for a total transaction of $76,980.00. Following the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at $567,393.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.32, for a total value of $76,980.00. Following the completion of the transaction, the director now owns 11,056 shares in the company, valued at $567,393.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $49.78, for a total transaction of $746,700.00. Following the transaction, the insider now directly owns 171,709 shares of the company’s stock, valued at approximately $8,547,674.02. The disclosure for this sale can be found here. Insiders have sold 75,471 shares of company stock valued at $4,196,153 over the last ninety days. Corporate insiders own 26.48% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Braze by 21.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock worth $19,973,000 after buying an additional 65,973 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Braze in the 4th quarter worth about $40,000. Price T Rowe Associates Inc. MD grew its position in shares of Braze by 45.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,127,398 shares of the company’s stock worth $59,900,000 after buying an additional 352,090 shares during the period. Finally, GSA Capital Partners LLP grew its position in Braze by 86.4% during the 4th quarter. GSA Capital Partners LLP now owns 21,817 shares of the company’s stock valued at $1,159,000 after purchasing an additional 10,113 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; partner cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.